Deutsche Bank’s Mr. CDS Heads for the Exits

Athanassios Diplas, global head of systemic risk management at Deutsche Bank and a key figure in the $650 trillion market for privately negotiated derivatives known as “swaps,” left the bank Monday.

Circumstances surrounding his departure couldn’t be learned, and a spokeswoman for Deutsche Bank declined to comment.

Mr. Diplas is expected to assume new responsibilities at the International Swaps and Derivatives Association, having already held a range of senior roles at the industry trade group in recent years, said a person close to the matter. This person declined to be identified because the new ISDA role hasn’t yet been finalized.

Outside Deutsche Bank, Mr. Diplas has been serving as co-head of the swaps association’s credit steering committee working group, which, among other things, is overhauling the credit-default swaps market in the face of criticisms following the Greek debt restructuring earlier this year. That revamp isn’t expected to be completed until 2013.

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